Islamabad: The Competition Commission of Pakistan (CCP) has approved the acquisition of Total System Services LLC (TSYS) by Fidelity National Information Services Inc. (FIS) from Global Payments Inc.

According to the CCP, FIS currently provides core banking software solutions in Pakistan, strengthening the digital infrastructure that supports the country's financial institutions. TSYS, on the other hand, operates card-processing systems and is presently associated with only two banks in the local market.

The Commission observed that the two entities function in distinct segments of the financial technology services sector and do not directly compete. Therefore, the proposed transaction does not pose any competition concerns. It is neither expected to create nor reinforce a dominant market position, nor is it likely to substantially lessen competition within the relevant markets.

In line with its assessment, the CCP has granted approval under Section 31(1)(d)(i) of the Competition Act, 2010, which provides clearance for mergers where no competition issues arise.

This approval is expected to support continued growth and innovation in Pakistan's digital payments and banking technology ecosystem, while ensuring adherence to national competition laws.